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Appraisal FAQs

  1. What are some of the appraisal best practices I should be aware of?

Prior to ordering an appraisal, make sure the borrower has an email.

  1. How do I contact the Appraisal Desk and how does a broker get credentials to login to Mercury?

Send an email to your Account Executive and they will send to the appropriate party.

  1. Are AMC’s auto assigned?

AMC’s are auto assigned.There is no broker option select to an AMC. The system has been designed to rotate to the firm that is best suited to produce the appraisal.

  1. When a broker places the order, are they told which AMC was assigned, and will they be able to contact the AMC directly?

Yes. They can send messages via the Appraisal System to the AMC.Brokers and your AE can track appraisal status on the pipeline view when they log into the Appraisal system.

  1. Is there a published IMPAC Appraisal Fee Schedule?

The fees schedule is on the wholesale site.

  1. What appraisal fee should be used in the GFE?

Please use $550 as the appraisal fee.

  1. How will the delivery of the appraisal to the borrower and broker get handled? 

This has an automated process and the Broker will receive an email notifying that the Borrower has been issued the appraisal.The Broker will also see the notification of delivery to the Borrower in the order history.

  1. Jumbo – Is there a certain AMC assigned? 

 No, we do not utilize any one AMC for our jumbo products, so ordering through the Appraisal system will work the same way for those products. 

  1.  Can we expedite the appraisal?

You can request a rush through the Appraisal System directly to the AMC.

  1. Who orders the 1004D?

The Broker is responsible for ordering the 1004D.

  1. Is the 1004D the same process?

Yes, the Broker orders through the Appraisal System.

  1. How are Brokers notified of the credit card declined?

You will receive an email from the Appraisal System.

Copyright © 2019 Impac Mortgage Corp. All rights reserved. NMLS #128231. Rates, fees and programs are subject to change without notice. Other restrictions may apply. Information is intended solely for mortgage bankers, mortgage brokers, financial institutions and correspondent lenders. Not intended for distribution to consumers, as defined by Section 1026.2 of Regulation Z, which implements the Truth-In-Lending Act. Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act (License #4131083). Impac Mortgage Corp. dba Excel Mortgage.